wayr today India

Tag: Entrackr : Latest Posts

  • Flipkart Streamlines Workforce Through Annual Performance Review

    This article was generated by AI and cites original sources.

    Flipkart, the Walmart-owned e-commerce giant, has recently undertaken a strategic workforce adjustment by laying off approximately 300 employees as part of its annual performance review cycle. This move, reported by The Economic Times, falls within Flipkart’s routine performance management process, where employees in lower performance bands are asked to exit the organization. These job cuts represent about 1.5% of Flipkart’s total employee base, which is estimated at 20,000 individuals across various teams.

    Flipkart’s periodic performance reviews are integral to its annual appraisal process, evaluating employees against predefined performance metrics and organizational standards. This recent action mirrors a similar initiative in 2024 when the company also conducted layoffs affecting around 1,000 employees during its annual appraisal exercise.

    Source: Entrackr : Latest Posts

  • Rural Retail Startup Rozana Secures $31.6M Series B Funding to Enhance Technology

    This article was generated by AI and cites original sources.

    Rozana, a rural omnichannel retail platform, has secured Rs 290 crore ($31.6 million) in a Series B funding round led by Bertelsmann India Investments. Other investors included Fireside Ventures, Spark Growth Ventures, Bikaji Family Office, FE Securities, and additional family offices.

    The new funds will be used to strengthen Rozana’s technology infrastructure, expand product categories, introduce private label offerings, and build brand partnerships.

    Established in 2021, Rozana operates a rural-focused omnichannel retail platform that integrates a consumer app, modern retail experience centers, and an in-house distribution network. The company currently runs 75 retail centers and collaborates with over 35,000 women partners who serve as last-mile fulfillment agents in local communities.

    Rozana’s reach spans 21,000 villages in the Gangetic plains, serving more than 1 million active households in Uttar Pradesh and Haryana. The company aims to grow to 200 stores and expand to two to three additional northern states within the Gangetic belt, with a long-term goal of reaching 130,000 villages.

    India’s rural consumption market, valued at over $2 trillion, exhibits significant potential, with over 200 million rural households spending approximately Rs 20,000 per month across various categories including staples, FMCG, personal care, household goods, apparel, and discretionary items.

    Source: Entrackr : Latest Posts

  • Rentomojo Prepares for IPO with Transition to Public Limited Company

    This article was generated by AI and cites original sources.

    Furniture and appliance rental platform Rentomojo has taken a significant step towards its planned initial public offering (IPO) by converting itself into a public limited company. Recently approved by the company’s board and shareholders, Rentomojo has rebranded from “Rentomojo Private Limited” to “Rentomojo Limited” through a special resolution, as revealed in regulatory filings accessed by Entrackr.

    Founded in 2014, Rentomojo operates at the convergence of consumer technology and lifestyle, providing rental services for furniture, appliances, and newer categories like water purifiers. The company has a customer base of over 2.2 lakh subscribers and manages more than 7.7 lakh rental items across 23 cities through 71 experience stores, positioning itself as a prominent player in the rental market.

    In its FY25 financial report, Rentomojo highlighted substantial growth, with a 48.24% CAGR in net rental revenue between FY23 and FY25. Additionally, EBITDA rose to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, indicating enhanced operational efficiency.

    Rentomojo has secured over Rs 650 crore in funding rounds, including a recent $25 million investment led by Edelweiss. The company boasts support from notable investors like Accel, Chiratae Ventures, and Bain Capital, among others. Rentomojo’s successful financial performance, with operating revenue reaching Rs 266 crore in FY25 and net profit surging by 92% to around Rs 43 crore, underscores its market potential.

    Source: Entrackr : Latest Posts

  • MakeMyTrip Expands Holiday Packages with Flamingo Transworld Acquisition

    This article was generated by AI and cites original sources.

    MakeMyTrip, a prominent player in the travel industry, has announced its acquisition of a majority stake in Flamingo Transworld, a regional tour operator with a strong presence in markets like Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. The undisclosed deal aims to bolster MakeMyTrip’s holiday packages segment and enhance its distribution networks, both online and offline.

    Flamingo Transworld, with over 30 years of experience, specializes in offering group tour services and a range of international and domestic travel packages. The company’s curated group tours feature regional-language tour managers and tailored Indian meal options, catering to diverse traveler preferences.

    By integrating Flamingo’s offerings, MakeMyTrip seeks to strengthen its presence in regional travel markets across India. This acquisition aligns with MakeMyTrip’s broader strategy of expanding its travel ecosystem, which includes popular platforms like Goibibo and redBus. In recent years, MakeMyTrip has pursued a growth trajectory through strategic acquisitions in various travel-related sectors, consolidating its position as a comprehensive travel service provider.

    Source: Entrackr : Latest Posts

  • Indian Startup Funding Roundup: Weekly Highlights

    This article was generated by AI and cites original sources.

    This week, the Indian startup ecosystem saw significant funding activity, with 14 startups raising approximately $105.08 million, according to Entrackr’s latest report. This amount was distributed among 6 growth-stage deals and 7 early-stage deals, with one startup choosing to keep its funding undisclosed.

    In comparison, the previous week saw a more substantial funding total, with 43 startups collectively securing about $222.87 million.

    Growth-stage Deals: The standout deal this week was the $40 million Series B round raised by rural omnichannel retail platform Rozana. Other notable investments include $25 million Series B for home services startup Pronto, and funding for RAS Luxury Skincare and digital transformation consulting firm KaarTech.

    Early-stage Deals: Early-stage funding activities this week amounted to $10 million spread across 7 deals. Inamo, a quick commerce enablement startup, secured $8 million, while Cheerio AI and ThunderPlus also received funding.

    Geographical and Sectoral Trends: Bengaluru led in the number of deals, followed by Delhi-NCR. Healthtech startups dominated the segment-wise distribution, with e-commerce, EV, and food & beverages also receiving notable investments.

    Series-wise Trends: Series B and seed deals were prominent this week, with 4 deals each. Other series like pre-seed, debt, Series A, and Series F also saw activity.

    Despite a decrease in funding compared to the previous week, this overview underscores the dynamic nature of the Indian startup funding landscape.

    Source: Entrackr : Latest Posts

  • UPI Transactions Dip in February, but Daily Count Reaches New High

    This article was generated by AI and cites original sources.

    India’s digital payments network, Unified Payments Interface (UPI), experienced a decline in transaction volume in February 2026, recording 20.39 billion transactions compared to 21.70 billion in January, according to data from the National Payments Corporation of India (NPCI). Despite the month-over-month decrease, transaction volumes saw a 27% year-on-year increase. The lower number of days in February compared to January contributed to the sequential decline, while average daily transaction activity remained stable.

    On the value side, UPI transactions amounted to Rs 26.84 lakh crore in February, down from Rs 28.33 lakh crore in January, indicating a 5.3% decrease. However, on an annual basis, transaction value showed a 22% year-on-year growth. The average daily transaction count in February rose to 728 million, surpassing January’s 700 million, with the average daily transaction value also increasing to Rs 95,865 crore from Rs 91,403 crore in the previous month.

    In January, PhonePe led the UPI ecosystem with a 45.7% share of total volume and a 48.6% share by value among UPI apps, followed by Google Pay and Paytm. The breakup data for February is yet to be disclosed.

    Source: Entrackr : Latest Posts

  • Meesho Faces Significant Tax Demand Amid Regulatory Scrutiny

    This article was generated by AI and cites original sources.

    E-commerce platform Meesho faces a significant tax demand of nearly Rs 1,500 crore from the Income Tax Department for the assessment year 2023-24. The tax authority issued an assessment order under Section 143(3) of the Income-tax Act, coupled with a demand notice under Section 156, totaling Rs 1,499.7 crore, inclusive of applicable interest.

    These demands stem from adjustments made by the tax department to the company’s reported income for the assessment year. Meesho has expressed disagreement with the observations and adjustments, asserting its intention to contest the demand on legal and factual grounds while safeguarding its interests.

    Notably, a similar demand was made for the previous assessment year (2022–23), with an interim stay granted by the Karnataka High Court, indicating ongoing legal proceedings. Meesho remains optimistic that these developments will not severely impact its financial standing or operations.

    Despite the tax scrutiny, Meesho reported a 31% year-on-year growth in operating revenue, reaching Rs 3,517.5 crore in Q3 FY26. However, the company also faced a substantial increase in losses, surging over 13 times to Rs 490 crore during the same period.

    Following these events, Meesho’s market capitalization stood at approximately $7.9 billion as its shares closed at Rs 158.6 at the end of the recent trading session.

    Source: Entrackr : Latest Posts

  • Stanza Living Achieves Profitability in FY25 Through Cost Optimization and Other Income

    This article was generated by AI and cites original sources.

    Stanza Living, a managed accommodation platform catering to students and professionals, reported a significant financial turnaround by achieving profitability in the fiscal year ending March 2025. Despite a 6.6% decline in revenue to Rs 545.5 crore, the company’s total income reached Rs 824 crore, boosted by non-operating income including Rs 277 crore in miscellaneous income. The firm’s cost restructuring efforts, such as reducing depreciation by 18% and finance costs by 27%, contributed to its profitability, reporting a profit of Rs 130 crore compared to a loss of Rs 273 crore in the previous year.

    Stanza Living’s focus on managing expenses efficiently, evident in the decrease of electricity costs and the rise in rent expenses, led to an overall 21.5% reduction in total expenses to Rs 683 crore in FY25. The company’s improved financial performance, with an ROCE of -2.68% and EBITDA margin of 35.66%, signifies a shift towards a more stable financial trajectory.

    Stanza Living’s profitability achievement underscores its resilience in a competitive market. The company’s ability to sustain profitability will depend on maintaining occupancy rates and expanding operations effectively. Observing its performance in the upcoming years will provide insights into whether the positive trend seen in FY25 can be continued.

    Source: Entrackr : Latest Posts

  • Tencent Reduces Stake in PB Fintech Through Rs 695 Crore Block Deal

    This article was generated by AI and cites original sources.

    Tencent Cloud Europe BV, a subsidiary of Chinese tech giant Tencent, has divested a portion of its ownership in PB Fintech, the holding company of Policybazaar and Paisabazaar, through a block deal transaction.

    The sale involved 48,40,439 shares of PB Fintech at Rs 1,435.10 per share, totaling approximately Rs 694.65 crore. Prior to this, Tencent Cloud Europe held 97,48,750 shares, representing a 2.12% stake in PB Fintech, which decreased to 1.06% post-transaction.

    Various institutional investors took part in the block deal. DSP Mutual Fund acquired 3,25,643 shares valued at Rs 46.73 crore, while Mirae Asset Mutual Fund purchased 9,00,000 shares amounting to Rs 129.15 crore.

    Notably, Goldman Sachs entities were significant buyers in the deal. Goldman Sachs Bank Europe SE acquired 7,01,249 shares worth Rs 100.63 crore, and Goldman Sachs Bank Europe SE – ODI procured 5,64,508 shares totaling Rs 81 crore.

    Additional buyers included Schroder Asian Alpha Plus Fund, Schroder AsiaPacific Fund PLC, Société Générale (ODI), Tata Mutual Fund, and Viridian Asia Opportunities Master Fund, collectively investing millions in PB Fintech.

    This move follows PolicyBazaar’s recent financial report, showing a substantial revenue increase and profit surge in Q3 FY26. At the close of trading, PolicyBazaar had a market capitalization of approximately $7.2 billion.

    Source: Entrackr : Latest Posts

  • PhysicsWallah’s Expansion Strategy: Focusing on Test Prep and Partnerships

    This article was generated by AI and cites original sources.

    PhysicsWallah, known as PW, has reported robust financial performance in Q3 FY26, with a 34% revenue increase year-on-year to Rs 1,082 crore and a PAT of Rs 102 crore, despite one-time expenses. The company has achieved profitability for the nine-month period, surpassing its full FY25 revenue within the first three quarters of the current fiscal.

    In an interview with Entrackr, PW’s CFO Amit Sachdeva discussed the company’s strategic focus on test preparation as the core business, while also expanding into state boards and K-12 school partnerships. Sachdeva highlighted the importance of tech-enabled educational platforms that invest heavily in technology upgrades and innovations to enhance the learning experience.

    PW’s recent ventures include PW Talks, an AI-powered English speaking app, and PW OTT, a distraction-free YouTube alternative tailored for students. These innovations aim to keep learners engaged and provide personalized learning experiences. With a user count of over 3.4 million and 134 million subscribers across social media, PW maintains high engagement levels, with an average of 106 minutes spent on the platform.

    The company’s entry into state boards has shown promising early traction, indicating significant growth potential. PW’s strategic investments in K-12 education through subsidiaries like PenPencil underscore its commitment to holistic student development.

    Source: Entrackr : Latest Posts